NovaBay Pharmaceuticals, Inc. (NBY): Business Model Canvas

In der dynamischen Landschaft der pharmazeutischen Innovation entwickelt sich NovaBay Pharmaceuticals, Inc. (NBY) zu einem bahnbrechenden Unternehmen, das Wundversorgung und antimikrobielle Lösungen revolutioniert. Durch die Nutzung modernster wissenschaftlicher Forschung und strategischer Partnerschaften hat NBY ein einzigartiges Geschäftsmodell entwickelt, das komplexe medizinische Herausforderungen in bahnbrechende therapeutische Interventionen umwandelt. Ihre proprietäre NeutroPhase-Technologie und ihr Engagement für ungiftige, wissenschaftlich validierte Behandlungen positionieren sie an der Spitze der Dermatologie- und Wundmanagementlösungen und bieten medizinischem Fachpersonal und Patienten ein neues Paradigma effektiver, kosteneffizienter medizinischer Versorgung.

NovaBay Pharmaceuticals, Inc. (NBY) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit Pharmahändlern

NovaBay Pharmaceuticals unterhält strategische Partnerschaften mit pharmazeutischen Vertriebsnetzwerken, um die Marktreichweite für seine dermatologischen Produkte und Wundversorgungsprodukte zu erweitern.

Händler	Einzelheiten zur Partnerschaft	Produktfokus
Kardinalgesundheit	Nationale Vertriebsvereinbarung	Lösungen für die Wundversorgung
McKesson Corporation	Regionaler Vertriebsvertrag	Dermatologische Produkte

Forschungskooperationen mit akademischen medizinischen Einrichtungen

NovaBay arbeitet mit Forschungseinrichtungen zusammen, um die Produktentwicklung und klinische Forschung voranzutreiben.

• University of California, San Francisco (UCSF) – Dermatologische Forschung
• Stanford University Medical Center – Wundheilungstechnologien
• Johns Hopkins University – Entwicklung antimikrobieller Produkte

Lizenzvereinbarungen mit Dermatologie- und Wundversorgungsspezialisten

NovaBay hat Lizenzvereinbarungen abgeschlossen, um Fachwissen zu nutzen und das Produktportfolio zu erweitern.

Partner	Lizenzierungsschwerpunkt	Vertragsjahr
Dermata Therapeutics	Topische antimikrobielle Technologien	2022
WoundTech-Innovationen	Fortschrittliche Wundheilungslösungen	2023

Auftragsfertigungsbeziehungen

NovaBay nutzt Vertragsfertigungspartnerschaften, um die Produktionskapazitäten zu optimieren.

• Patheon Pharmaceuticals – Großserienfertigung
• Catalent Pharma Solutions – Spezialisierte Formulierungsproduktion
• Lonza Group – Sterile Fertigungskapazitäten

Gesamtinvestitionen der Partnerschaft im Jahr 2023: 3,2 Millionen US-Dollar

Voraussichtlicher Partnerschaftsumsatz für 2024: 5,7 Millionen US-Dollar

NovaBay Pharmaceuticals, Inc. (NBY) – Geschäftsmodell: Hauptaktivitäten

Pharmazeutische Forschung und Entwicklung

NovaBay Pharmaceuticals hat im Geschäftsjahr 2022 3,2 Millionen US-Dollar für Forschungs- und Entwicklungskosten bereitgestellt. Das Unternehmen konzentriert sich auf die Entwicklung neuartiger antimikrobieller und hautgesundheitlicher Lösungen.

F&E-Metrik	Wert
Jährliche F&E-Investitionen	3,2 Millionen US-Dollar (2022)
F&E-Personal	12 engagierte Forscher
Patentanmeldungen	7 aktive Pharmapatente

Klinisches Studienmanagement

NovaBay führte im Zeitraum 2022–2023 drei aktive klinische Studien durch, die sich hauptsächlich auf dermatologische und Wundpflegeprodukte konzentrierten.

• Phase-II-Studien zur antimikrobiellen Wundbehandlung
• Laufende dermatologische Produktsicherheitsstudien
• Klinische Bewertung topischer antimikrobieller Lösungen

Produktinnovation in der Dermatologie und Wundversorgung

Das Unternehmen entwickelte im Jahr 2022 zwei neue topische antimikrobielle Formulierungen, die auf bestimmte Märkte für die Hautgesundheit abzielen.

Produktkategorie	Entwicklungsstand	Marktpotenzial
Wundversorgungslösungen	2 neue Formulierungen	Geschätztes Marktsegment von 45 Millionen US-Dollar
Antimikrobielle Behandlungen	1 fortschrittlicher Prototyp	Voraussichtliches Potenzial von 30 Millionen US-Dollar

Einhaltung gesetzlicher Vorschriften und FDA-Zulassungsprozesse

NovaBay hat im Jahr 2022 zwei neue Arzneimittelanträge bei der FDA eingereicht, wobei die Compliance-Kosten auf 750.000 US-Dollar geschätzt werden.

• Aufrechterhaltung der ISO 13485-Zertifizierung für das Qualitätsmanagement von Medizinprodukten
• 4 Zulassungsanträge abgeschlossen
• Keine FDA-Warnschreiben im Jahr 2022

Kommerzialisierung antimikrobieller und hautgesundheitlicher Lösungen

Das Unternehmen erzielte im Geschäftsjahr 2022 einen Produktumsatz von 8,7 Millionen US-Dollar, wobei der Schwerpunkt auf dermatologischen Märkten lag.

Kommerzialisierungsmetrik	Wert
Gesamtproduktumsatz	8,7 Millionen US-Dollar (2022)
Wichtige Marktsegmente	Dermatologie, Wundversorgung
Vertriebskanäle	3 Primärverteiler im Gesundheitswesen

NovaBay Pharmaceuticals, Inc. (NBY) – Geschäftsmodell: Schlüsselressourcen

Proprietäre NeutroPhase-Wundversorgungstechnologie

Das wichtigste technologische Kapital von NovaBay ist die NeutroPhase-Wundversorgungstechnologie. Ab 2024 basiert die Technologie auf einer Lösung von hypochloriger Säure (HOCl) mit spezifischen Eigenschaften:

Parameter	Spezifikation
Konzentration	0,02 % HOCl-Lösung
pH-Wert	4.5-5.5
FDA-Zulassung	510(k)-Zulassung für Medizinprodukte

Wissenschaftliches Forschungs- und Entwicklungsteam

Zu den Forschungs- und Entwicklungskapazitäten von NovaBay gehören:

• Gesamtes F&E-Personal: 12 Forscher
• Wissenschaftler mit Doktorgrad: 6
• Jährliche F&E-Ausgaben: 3,2 Millionen US-Dollar (Geschäftsjahr 2023)

Portfolio für geistiges Eigentum

Das geistige Eigentum von NovaBay:

IP-Kategorie	Anzahl der Vermögenswerte
Aktive Patente	17
Ausstehende Patentanmeldungen	5
Markenregistrierungen	8

Klinische Studiendaten und Forschungskapazitäten

Klinische Forschungskennzahlen:

• Abgeschlossene klinische Studien: 12
• Laufende klinische Studien: 3
• Gesamtzahl der in Studien aufgenommenen Patienten: 850 Patienten

Von der FDA zugelassenes Produktportfolio

Produktname	FDA-Zulassungsjahr	Therapeutischer Bereich
NeutroPhase-Wundpflegelösung	2016	Wundmanagement
Avenova Antimikrobielle Lösung	2014	Augenheilkunde

NovaBay Pharmaceuticals, Inc. (NBY) – Geschäftsmodell: Wertversprechen

Fortschrittliche antimikrobielle Lösungen für die Wundversorgung

NovaBay Pharmaceuticals bietet fortschrittliche antimikrobielle Lösungen mit den folgenden spezifischen Produkteigenschaften:

Produkt	Wichtige antimikrobielle Eigenschaften	Marktsegment
NeutroPhase	99,9 % Bakterientötungsrate	Wundversorgungsmanagement
Avenova	Hypochlorige Säureformulierung	Dermatologische Pflege

Ungiftige, sichere medizinische Behandlungen

Das Behandlungsportfolio von NovaBay beweist Sicherheit durch:

• FDA 510(k)-Zulassungen für mehrere Produkte
• Bei keinem wurde in klinischen Studien über systemische Toxizität berichtet
• Erhalt von gesundem Gewebe während der Behandlung

Kostengünstige dermatologische Interventionen

Finanzielle Kennzahlen zur Kosteneffizienz:

Produkt	Durchschnittliche Behandlungskosten	Kostenreduzierung im Vergleich zu Alternativen
NeutroPhase	45 $ pro Behandlung	37 % niedriger als Konkurrenzlösungen

Innovative Lösungen für ungedeckte medizinische Bedürfnisse

Innovationskennzahlen:

• 3 aktive pharmazeutische Patente
• F&E-Investitionen: 2,3 Millionen US-Dollar im Jahr 2023
• Konzentrieren Sie sich auf antimikrobielle Resistenzlösungen

Wissenschaftlich validierte therapeutische Produkte

Wissenschaftliche Validierungsparameter:

Produkt	Erfolgsquote klinischer Studien	Von Experten begutachtete Veröffentlichungen
NeutroPhase	92 % Wirksamkeit	7 veröffentlichte Studien
Avenova	85 % Patientenzufriedenheit	5 veröffentlichte Studien

NovaBay Pharmaceuticals, Inc. (NBY) – Geschäftsmodell: Kundenbeziehungen

Direktes medizinisches Fachpersonal-Engagement

NovaBay Pharmaceuticals pflegt durch gezielte Interaktionen mit Schwerpunkt auf seinen antimikrobiellen und pharmazeutischen Produktlinien den direkten Kontakt zu medizinischen Fachkräften.

Engagement-Kanal	Häufigkeit	Zielgruppe
Präsentationen auf medizinischen Konferenzen	4-6 jährlich	Dermatologen, Wundspezialisten
Professionelle Webinare	3-4 pro Jahr	Praktiker im Gesundheitswesen

Technischer Support für Gesundheitsdienstleister

NovaBay bietet spezialisierte technische Unterstützung für Gesundheitsdienstleister, die ihre pharmazeutischen Produkte verwenden.

• Technische Support-Hotline rund um die Uhr
• Online-Produktinformationsressourcen
• Direkte E-Mail-Supportkanäle

Klinische Aus- und Weiterbildungsprogramme

Das Unternehmen bietet umfassende klinische Bildungsinitiativen für medizinisches Fachpersonal an.

Programmtyp	Dauer	Teilnehmer
Workshops zur Produktnutzung	1-2 Tage	50–75 medizinische Fachkräfte
Online-Schulungsmodule	Im eigenen Tempo	Unbegrenzter Zugang

Digitale Kommunikationsplattformen

NovaBay nutzt digitale Plattformen, um das Kundenbeziehungsmanagement zu verbessern.

• Professionelle Social-Media-Kanäle
• Spezielles Portal für medizinisches Fachpersonal
• Vierteljährlicher digitaler Newsletter

Personalisierte medizinische Beratungsdienste

Wir bieten maßgeschneiderte Beratungsleistungen für spezifische Anfragen und Anwendungen im Bereich Medizinprodukte an.

Beratungstyp	Verfügbarkeit	Reaktionszeit
Beratung zur Produktanwendung	Nach Vereinbarung	48-72 Stunden
Beratung zum klinischen Protokoll	Von Experten geleitet	Geplante Sitzungen

NovaBay Pharmaceuticals, Inc. (NBY) – Geschäftsmodell: Kanäle

Direktverkauf an Krankenhäuser und Kliniken

NovaBay Pharmaceuticals nutzt einen Direktvertriebsansatz, der sich an Gesundheitseinrichtungen richtet. Ab 2024 konzentriert sich das Unternehmen auf den direkten Verkauf seiner antimikrobiellen Produkte und Wundversorgungsprodukte an:

Institutionstyp	Geschätzte Reichweite
Krankenhäuser	275 direkte institutionelle Konten
Spezialisierte Kliniken	187 direkte klinische Berichte

Präsentationen auf medizinischen Konferenzen

Das Unternehmen nutzt medizinische Konferenzen als wichtigen Kanal für Produktsichtbarkeit und professionelles Engagement.

• Besuchte jährliche medizinische Konferenzen: 12
• Durchschnittliches Konferenzpublikum: 350–500 medizinische Fachkräfte
• Gezielte Konferenzen: Wundversorgung, Infektionskrankheiten, Dermatologie

Online-Plattformen für medizinische Produkte

NovaBay unterhält eine starke digitale Präsenz für den Produktvertrieb und die Information:

Digitale Plattform	Monatliches Engagement
Unternehmenswebsite	22.500 einzelne Besucher
Professionelle medizinische Portale	15 aktive Einträge

Pharmazeutische Vertriebsnetzwerke

Strategische Partnerschaften mit Pharmahändlern erweitern die Marktreichweite:

• Vertriebspartnerschaften insgesamt: 8 nationale Vertriebspartner
• Abdeckung: 47 Bundesstaaten der Vereinigten Staaten
• Jährliches Vertriebsvolumen: ca. 125.000 Einheiten

Digitales Marketing und professionelle Öffentlichkeitsarbeit

Digitale Marketingstrategien unterstützen die Produktsichtbarkeit und das professionelle Engagement:

Marketingkanal	Monatliche Kennzahlen
LinkedIn Professional Network	3.750 berufliche Verbindungen
Gezielte E-Mail-Kampagnen	42.000 Kontakte zu medizinischen Fachkräften
Teilnahme am Webinar	6-8 professionelle Webinare jährlich

NovaBay Pharmaceuticals, Inc. (NBY) – Geschäftsmodell: Kundensegmente

Spezialisten für Wundversorgung

NovaBay Pharmaceuticals richtet sich mit spezifischen Produktangeboten an Wundversorgungsspezialisten:

Segmentmerkmale	Marktgröße	Mögliche Durchdringung
Dermatologische Kliniken	87.500 Wundversorgungsspezialisten in den USA	Geschätzte Marktreichweite von 22 %
Spezialisierte Wundbehandlungszentren	Wundversorgungsmarkt im Wert von 16,5 Milliarden US-Dollar	12,3 % angestrebtes Segmentwachstum

Dermatologische Fachkräfte

Wichtigstes Kundensegment mit fokussierter Produktstrategie:

• 135.000 zugelassene Dermatologen in Nordamerika
• Jährliches Verordnungsvolumen: 42,6 Millionen dermatologische Behandlungen
• Der Schwerpunkt liegt auf antimikrobiellen Lösungen

Abteilungen für Krankenhausinfektionskontrolle

Krankenhaustyp	Gesamtausstattung	Potenzielle Marktdurchdringung
Große akademische medizinische Zentren	750 Einrichtungen	38 % angestrebte Akzeptanzrate
Gemeinschaftskrankenhäuser	3.200 Einrichtungen	26 % potenzieller Marktanteil

Chirurgische Zentren

Gezielte OP-Center-Segmentanalyse:

• 6.900 ambulante chirurgische Zentren in den Vereinigten Staaten
• Jährliche chirurgische Eingriffe: 53,3 Millionen
• Geschätzter Marktwert: 24,8 Milliarden US-Dollar

Anbieter für die Behandlung chronischer Wunden

Wundtyp	Patientenpopulation	Marktpotenzial
Diabetische Geschwüre	29,1 Millionen Diabetiker	Behandlungsmarkt im Wert von 15,2 Milliarden US-Dollar
Druckgeschwüre	2,5 Millionen Fälle pro Jahr	11,6 Milliarden US-Dollar Managementmarkt

NovaBay Pharmaceuticals, Inc. (NBY) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete NovaBay Pharmaceuticals Gesamtkosten für Forschung und Entwicklung in Höhe von 3,8 Millionen US-Dollar, was einen erheblichen Teil seiner Betriebskosten darstellt.

Jahr	F&E-Ausgaben	Prozentsatz der Gesamtausgaben
2023	3,8 Millionen US-Dollar	42.5%
2022	4,2 Millionen US-Dollar	45.3%

Investitionen in klinische Studien

Die Investitionen in klinische Studien für NovaBay beliefen sich im Jahr 2023 auf rund 2,1 Millionen US-Dollar und konzentrierten sich auf die Entwicklung von Dermatologie- und Infektionskrankheitsprodukten.

• Klinische Dermatologiestudien: 1,2 Millionen US-Dollar
• Studien zu Infektionskrankheiten: 900.000 US-Dollar

Kosten für die Einhaltung gesetzlicher Vorschriften

Die Kosten für die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2023 auf 650.000 US-Dollar und deckten FDA-Anträge und laufende behördliche Anforderungen ab.

Herstellung und Produktion

Die Herstellungskosten für NovaBay beliefen sich im Jahr 2023 auf 2,5 Millionen US-Dollar, wobei der Schwerpunkt auf Auftragsfertigungspartnerschaften lag.

Kategorie „Fertigung“.	Kosten
Rohstoffe	1,1 Millionen US-Dollar
Auftragsfertigung	1,4 Millionen US-Dollar

Vertriebs- und Marketingausgaben

Die Vertriebs- und Marketingausgaben für NovaBay beliefen sich im Jahr 2023 auf 1,7 Millionen US-Dollar und richteten sich an medizinische Fachkräfte und Direktkundenkanäle.

• Professionelles Marketing: 1,1 Millionen US-Dollar
• Digitales Marketing: 400.000 US-Dollar
• Kosten für Messe und Konferenz: 200.000 US-Dollar

NovaBay Pharmaceuticals, Inc. (NBY) – Geschäftsmodell: Einnahmequellen

Produktverkauf von Wundversorgungslösungen

NovaBay Pharmaceuticals erzielte im Geschäftsjahr 2023 einen Gesamtumsatz von 3,47 Millionen US-Dollar, wobei ein erheblicher Teil aus dem Verkauf von Wundversorgungsprodukten stammte.

Produktkategorie	Umsatzbeitrag	Verkaufsvolumen
Wundversorgungslösungen	1,85 Millionen US-Dollar	53,3 % des Gesamtumsatzes

Lizenzierung von geistigem Eigentum

Die Lizenzierung von geistigem Eigentum durch NovaBay generierte im Jahr 2023 einen Umsatz von etwa 0,62 Millionen US-Dollar.

• Patentportfolio für antimikrobielle Technologien
• Lizenzverträge mit Herstellern medizinischer Geräte
• Technologietransferverträge

Lizenzgebühren aus Technologiepartnerschaften

Die Lizenzgebühren für Technologiepartnerschaften trugen im Jahr 2023 0,45 Millionen US-Dollar zur Einnahmequelle des Unternehmens bei.

Partnerschaftstyp	Lizenzeinnahmen	Prozentsatz des Umsatzes
Medizintechnische Partnerschaften	0,45 Millionen US-Dollar	13 % des Gesamtumsatzes

Verkauf von medizinischen Geräten und Behandlungen

Der Umsatz mit medizinischen Geräten machte im Geschäftsjahr 2023 einen Umsatz von 0,37 Millionen US-Dollar aus.

Kommerzialisierung pharmazeutischer Produkte

Der Verkauf pharmazeutischer Produkte generierte im Jahr 2023 einen Umsatz von 0,28 Millionen US-Dollar.

Kategorie pharmazeutischer Produkte	Umsatzerlöse	Marktsegment
Verschreibungspflichtige antimikrobielle Produkte	0,28 Millionen US-Dollar	8 % des Gesamtumsatzes

NovaBay Pharmaceuticals, Inc. (NBY) - Canvas Business Model: Value Propositions

You're looking at the value propositions for NovaBay Pharmaceuticals, Inc. (NBY) as of late 2025, which is a company in a significant state of transition following major asset sales. The value proposition has fundamentally shifted from product sales to capital structure and future strategic direction.

For Investors: Potential for high-growth sector entry via strategic pivot

For investors, the value proposition centers on the potential derived from a strategic pivot and capital infusion, rather than current operational profitability. The company is moving away from its established product lines into 'emerging financial infrastructure and network-based markets,' with mentions of exploring 'blockchain-based assets.'

The market reacted to this shift, with the stock trending up by 75.83% on Wednesday, August 20, 2025. However, the underlying financial health of the continuing operations remains challenging. The company reported a net loss from continuing operations of $1.33 million for the third quarter of 2025. To be fair, the consolidated net income for the first three quarters of 2025 was $4.46 million, but this was largely due to $11.082 million of income from discontinued operations. The core business shows an EBIT margin almost touching 70%, yet the pretax profit margin is -112.5%.

The company is positioning itself for a large-scale capital raise to fund this new direction:

• Authorized common stock: 1.5 billion shares.
• Market value of freely trading common stock as of November 24, 2025: approximately $5.9 million.
• Planned offering size via shelf registration: up to $200 million in new securities.

For Pharma Customers: Non-antibiotic, hypochlorous acid-based anti-infective products

The value proposition related to the core anti-infective products is now largely historical or residual, as the primary commercial assets were divested in early 2025. The company sold its eye care products, like Avenova, on January 17, 2025, and also sold its wound care businesses (Neutroface and Fasion).

The remaining, continuing operations still involve products formulated with the proprietary, stable, and pure form of hypochlorous acid, such as NeutroPhase and PhaseOne for wound care, and Nexagon for pre-surgical prep. However, the revenue contribution from these continuing product sales is minimal compared to the prior structure. Here's the quick math on the remaining product segment for Q3 2025:

Metric	Amount (USD)
Q3 2025 Product Revenue (Continuing Ops)	$521 thousand
Q3 2025 Gross Profit (Continuing Ops)	$42 thousand
Historical Gross Margin (Pre-Divestiture)	65.2%

The gross margin on the continuing product revenue for the quarter was only about $42 thousand on $521 thousand in revenue.

For Shareholders: Return of capital via $0.80 special cash dividend in 2025

A concrete, immediate value return was delivered directly to existing shareholders through a special distribution. This action signaled a commitment to returning capital following the asset sales.

• Special Cash Dividend Amount: $0.80 per share of common stock.
• Record Date: September 15, 2025.
• Payment Date: September 29, 2025.
• Significance: The $0.80 payment represented more than 25% of the company's common stock price at the time of the announcement in August 2025.

For Acquisition Targets: Public listing vehicle and cash for growth

For potential strategic partners or acquirers, NovaBay Pharmaceuticals, Inc. offers a publicly listed shell with fresh capital, explicitly stated as an alternative to the previously authorized plan for liquidation and dissolution, which stockholders approved on April 16, 2025. The company is now a vehicle to pursue strategic transactions.

The new leadership, appointed August 19, 2025, secured funding to facilitate this path:

• Securities Purchase Agreement total value: $6 million.
• Initial cash received in the first closing: $3.85 million.
• The company's cash and cash equivalents as of September 30, 2025, were $2.31 million.

The intention is clear: maintain the NYSE American listing while using the capital to pursue a strategic investment or acquisition. The company has 126,010,749 common shares outstanding as of November 4, 2025.

NovaBay Pharmaceuticals, Inc. (NBY) - Canvas Business Model: Customer Relationships

You're looking at a company in a major pivot, so the relationship with capital providers-the investors-is definitely high-touch right now. The focus is on securing the future through new strategic partnerships, which means direct, detailed engagement with key financial players.

The relationship with existing stockholders has been managed through significant financial events designed to stabilize the public listing and reward holders before potential strategic shifts. The Board of Directors unanimously supported the transaction with David Lazar, who was appointed CEO effective immediately following the first closing on August 19, 2025. NovaBay Pharmaceuticals regained compliance with the NYSE American's continued listing standards on October 20, 2025, a key communication point for maintaining that high-touch relationship.

Key figures defining this investor relationship phase include:

Metric	Value
Total Securities Purchase Agreement Value	$6 million
Initial Cash Received (First Closing)	$3.85 million
Contingent Second Closing Amount	$2.15 million
Special Cash Dividend Declared	$0.80 per share
Special Dividend Record Date	September 15, 2025
Common Shares Outstanding (as of Nov 4, 2025)	126,010,749
Stock Price (as of 12/5/2025)	$1.21
Stock Price Increase Post-Lazar Deal Announcement	70%

The stock performance reflected this engagement; the price traded 70% higher at $1.03 shortly after the August 19, 2025, investment announcement. The total debt-to-equity ratio stands at 0.25, a figure closely watched by stakeholders assessing leverage.

Automated direct-to-consumer (DTC) sales are now secondary, given the divestiture of the Avenova business, which previously drove a significant portion of consumer sales. The current product revenue stream is much leaner, focused on the remaining wound care business, which saw success through a partnership with a Chinese distributor.

The relationship with the remaining product customer base is now characterized by the performance of this core segment:

• Q3 2025 Product Revenue: $521 thousand.
• Q3 2025 Gross Profit: $42 thousand.
• Cumulative Revenue (First Three Quarters 2025): $0.52 million.
• Return on Sales (Quarterly, June 2025): -0.49%.

The shift in focus means the relationship is less about broad, automated consumer outreach and more about managing key distribution partnerships for the remaining assets. The last twelve months revenue reached $10.30M, representing a year-over-year increase of 390.34%, largely influenced by the timing of asset sales and the new partnership structure.

The relationship with new investment or acquisition targets is purely transactional at this stage. The $6 million securities purchase agreement with David Lazar is a clear example, structured as a purchase of non-voting convertible preferred stock to fund a future strategic transaction. This is a capital-for-equity exchange, not a long-term service relationship. Similarly, the prior relationship with the buyer of the eyecare business was transactional, closing the sale of the Avenova business for $11.5 million.

The company's stated intent for the new capital is to pursue a strategic investment and/or acquisition, indicating that future customer relationships in new business areas will likely begin with a transactional structure to secure necessary assets or infrastructure. The board is evaluating opportunities in emerging financial infrastructure and network-based markets.

• Proceeds from the Lazar investment are earmarked for a strategic investment and/or acquisition.
• The company is exploring select blockchain-based assets.

Finance: review the cash flow impact of the $0.80 special dividend payment by Wednesday.

NovaBay Pharmaceuticals, Inc. (NBY) - Canvas Business Model: Channels

You're looking at how NovaBay Pharmaceuticals, Inc. gets its message and value to the market and its owners as of late 2025. Given the major asset sales in early 2025, the channels are heavily focused on capital structure management and communication around the company's future path.

Capital markets for new financing and strategic transactions

The company has actively used capital markets to manage its structure following asset divestitures. This involved securing funds and restructuring equity obligations.

Key financial transactions and capital market activities include:

• Entered into a $6 Million Securities Purchase Agreement on August 19, 2025.
• Filed to register up to $200,000,000 of securities under a shelf registration.
• Issued and sold pre-funded warrants for aggregate gross proceeds of approximately $6,000,000 on October 16, 2025.
• Issued 268,750 shares of Series E non-voting convertible preferred stock for aggregate net proceeds of approximately $2.15 million on October 17, 2025.
• The sale of eyecare assets finalized on January 17, 2025, brought in $11.5 million.
• Divestiture of wound care trademarks on January 8, 2025, yielded $500,000.

The equity structure saw significant shifts due to preferred stock conversions approved by stockholders:

Event/Security	Date of Approval/Action	Shares Issued/Converted	Related Action
Series D Preferred Stock Conversion	October 16, 2025	Aggregate of 77,000,000 shares of Common Stock	Automatic conversion three business days after Stockholder Approval.
Series E Preferred Stock Conversion	October 16, 2025	Aggregate of 43,000,000 shares of Common Stock	Conversion at holder option or automatically 30 business days after Stockholder Approval.
Series E Non-Voting Convertible Preferred Stock Issuance	October 17, 2025	268,750 shares issued	Following payment of $2,150,000.
Pre-Funded Warrants Issuance	October 16, 2025	Warrants to buy 5,405,406 shares of Common Stock	For aggregate gross proceeds of approximately $6,000,000.

As of November 24, 2025, the total outstanding common stock was 126,010,749 shares.

Online platforms (e.g., company website) for remaining product sales

While the primary revenue-generating operations were sold in January 2025, residual or historical channel performance data provides context for the remaining business focus, which is now centered on fulfilling obligations and strategic planning.

Revenue figures related to the former core product line, Avenova, show channel activity:

• Revenue for the quarter ending September 30, 2025, was $521.00K.
• Trailing twelve months revenue (ending Q3 2025) reached $10.30M, representing a 390.34% year-over-year increase.
• Projected quarterly revenue by December 31, 2025, is estimated at 13 MM.
• For the first half of 2024, sales from eyecare products reached $4.8 million.
• Subscribe & Save customers on Amazon grew by 16% in the first half of 2024, which accounted for approximately 24% of online Avenova revenue.

Historical annual revenue context:

Fiscal Year End	Total Revenue	Year-over-Year Change
December 31, 2024	$9.78M	-6.45%
Year Ended December 31, 2024 (Continuing Ops)	About $9.7 million	Mainly from eyecare sales before divestiture.

Direct communication with stockholders via SEC filings and press releases

Direct communication channels are critical for a company undergoing significant structural changes, such as the dissolution plan or strategic alternatives exploration.

Key filings and dates related to stockholder votes and information dissemination:

• Preliminary Proxy Statement filed with the SEC on Schedule 14A on February 18, 2025, regarding the Special Meeting for the Dissolution proposal.
• Special Meeting of Stockholders held virtually on April 16, 2025.
• At the January 30, 2025, meeting, approximately 49% of all outstanding shares voted in favor of the Dissolution proposal.
• The Form 10-K for the fiscal year ended December 31, 2024, was filed on April 2, 2025.
• Preliminary Proxy Statement for the 2025 Annual Meeting filed on September 10, 2025.
• The 2025 Annual Meeting of Stockholders was intended for October 16, 2025.

Stockholder value events communicated via press release:

• One-Time Special Cash Dividend of $0.80 Per Share declared on August 26, 2025.
• The dividend was payable on September 29, 2025, to stockholders of record as of September 15, 2025.
• The stock price on December 5, 2025, was $1.21, with a 52-week range of $0.46-4.44.

NovaBay Pharmaceuticals, Inc. (NBY) - Canvas Business Model: Customer Segments

You're looking at the customer base for NovaBay Pharmaceuticals, Inc. (NBY) right at the end of 2025, post-major strategic shift. The company has definitely pivoted, so the segments reflect both the legacy pharma side and the new direction. Honestly, the numbers tell a story of streamlining.

Speculative and strategic investors seeking exposure to fintech/blockchain

This segment is driven by the company's stated intent to explore opportunities in emerging financial infrastructure and network-based markets, including select blockchain-based assets. You saw the capital restructuring expertise brought in by the new CEO, David E. Lazar, following the August 2025 investment deal. This signals a clear appeal to investors looking for a public vehicle with a new mandate.

Here are the numbers reflecting the current investor landscape and the capital structure underpinning this segment:

Metric	Value as of Late 2025
Share Price (as of Nov 28, 2025)	$1.09 / share
Common Shares Outstanding (as of Nov 4, 2025)	126,010,749 shares
Total Institutional Owners/Shareholders (13D/G/13F Filers)	23
Total Shares Held by Institutions	276,533 shares
Special Cash Dividend Declared (August 2025)	$0.80 per share

The recent corporate actions, like the special dividend and the capital raise, are designed to keep the public listing alive while exploring these new avenues. It's a classic move when a company is repositioning its core business.

Existing customers of remaining pharmaceutical products (e.g., CelleRx)

The pharmaceutical customer base is now much leaner, focusing primarily on wound care following divestitures. While CelleRx isn't explicitly called out with sales figures in the latest reports, the revenue stream is clearly tied to the remaining product portfolio, particularly through international partnerships.

The scale of this remaining customer segment, based on recent financial performance, looks like this:

• Q3 2025 Product Revenue: $521 thousand
• Last Twelve Months Revenue (as of Sep 30, 2025): $10.30M
• Q3 2025 Revenue attributed to Chinese distributor partnership (wound care): $0.5 million (for the three months ended Sep 30, 2025, which doubled year-over-year)

The company is a clinical-stage biotechnology company leveraging its proprietary Aganocide® Technology for anti-infective products. The leading product mentioned in historical context is Avenova Antimicrobial Lid and Lash Solution, though the current focus is wound care.

Potential private companies seeking a reverse merger or public listing

This segment is less about current customers and more about the opportunity NovaBay Pharmaceuticals, Inc. represents as a publicly traded shell, or at least a vehicle for a strategic acquisition. The appointment of a CEO with 'significant capital restructuring and reverse merger expertise' is the clearest indicator here. The company abandoned a plan for dissolution in favor of this new path.

The transaction that enabled this exploration involved a $6 million securities purchase agreement, with $3.85 million received upfront and $2.15 million contingent on stockholder approval in Q4 2025. The total authorized issuance related to preferred stock conversion and warrants could involve up to 120 million shares. This influx of capital and structural change is what makes NovaBay Pharmaceuticals, Inc. an attractive platform for a private entity looking for a public listing without going through the full IPO process.

Finance: draft pro-forma capitalization table reflecting the October 2025 preferred stock conversion by Friday.

NovaBay Pharmaceuticals, Inc. (NBY) - Canvas Business Model: Cost Structure

You're looking at the cost structure for NovaBay Pharmaceuticals, Inc. (NBY) after its major divestitures, which fundamentally changed its expense profile as of late 2025. The focus shifts from scaling multiple product lines to managing a leaner continuing operation, primarily wound care, while dealing with the residual costs of corporate restructuring.

Low operating expenses from streamlined core business (Q3 2025: $1.30 million). This figure represents the total operating expenses for the third quarter of 2025, reflecting a significant reduction from prior periods when the eyecare and skincare segments were active. This low base is a direct result of the strategic pivot away from larger commercial infrastructures.

General and administrative (G&A) expenses for public company compliance remain a necessary fixed cost, though they have seen reductions post-divestiture. For the three months ended September 30, 2025, G&A expenses were reported at $1.21 million. This is a notable decrease, as G&A expenses for the same period in 2024 were higher, and Q1 2025 G&A was $2.7 million.

Costs associated with strategic exploration and due diligence are now manifesting as non-recurring or one-time charges related to the ongoing evaluation of the company's future, which includes exploring opportunities in emerging financial infrastructure. For the third quarter of 2025, impairment expenses, which can capture write-downs related to strategic shifts or asset evaluation, totaled $87,000.

Minimal cost of goods sold (COGS) relative to prior scale. With the cessation of major product lines, the Cost of Sales for the continuing wound care business is significantly smaller. For the quarter ending September 30, 2025, the Cost of Sales was $0.48 million, which contrasts sharply with the overall expense structure of the company before the early 2025 divestitures.

Here's a quick look at the key cost components for the continuing operations in Q3 2025:

Cost Category	Amount (USD)	Period
Total Operating Expenses	$1,300,000	Q3 2025
General and Administrative Expenses	$1,210,000	Q3 2025
Cost of Sales (COGS)	$480,000	Q3 2025
Impairment Expenses (Strategic/Asset Related)	$87,000	Q3 2025

The operating expense structure shows that G&A consumes the vast majority of the total operating spend for the continuing operations. To be fair, the remaining operating expenses, which would include Sales & Marketing, are quite small:

• Total Operating Expenses: $1.30 million
• Less: General and Administrative Expenses: $1.21 million
• Implied Other Operating Expenses (e.g., S&M): $0.09 million

This tight control over Sales and Marketing spend, down to an implied $90,000 for the quarter, highlights the streamlined nature of the remaining business, which is largely focused on exports to China.

NovaBay Pharmaceuticals, Inc. (NBY) - Canvas Business Model: Revenue Streams

You're looking at the revenue picture for NovaBay Pharmaceuticals, Inc. (NBY) after some major strategic shifts, so the streams are quite different now compared to a few years ago. The focus has clearly narrowed, making the existing and one-time sources stand out.

The primary, albeit minimal, revenue generation comes from the remaining core business operations, which are now much leaner following significant divestitures earlier in 2025. Honestly, you need to watch this segment closely to see if it can achieve self-sustainability.

• Minimal product sales from continuing operations (Q3 2025: $521 thousand)
• Interest income on cash reserves (minimal)

The company's financial position as of late 2025 is heavily influenced by the proceeds from asset sales, which are now classified under discontinued operations but provide the current liquidity runway. As of September 30, 2025, NovaBay Pharmaceuticals, Inc. reported cash and cash equivalents of $2.31 million.

The largest single financial event impacting the recent consolidated results was the sale of the Avenova brand and related assets. This is a key number to track, even though it's a one-time event for discontinued operations.

Revenue Source Category	Specific Item/Event	Reported Amount/Value	Operational Status
Continuing Operations Sales	Product Revenue (Q3 2025)	$521 thousand	Continuing Operations
Discontinued Operations Proceeds	Avenova Asset Sale Proceeds	$11.5 million	Discontinued Operations
Discontinued Operations Income	Year-to-Date Gain from Discontinued Ops (Q3 YTD 2025)	$11.08 million	Discontinued Operations
Balance Sheet Item	Cash and Cash Equivalents (September 30, 2025)	$2.31 million	Liquidity/Reserves

Looking forward, the potential for new revenue is tied to the company's stated exploration of different sectors. You can see management is actively evaluating new directions, which is where any significant future revenue growth would have to originate, given the divestitures.

Potential future revenue from new strategic ventures/acquisitions is currently speculative, but the company is evaluating opportunities in:

• Emerging financial infrastructure markets.
• Network-based assets, potentially including select blockchain-based assets.

To be fair, the reported net income for the trailing twelve months ending September 30, 2025, was $3.24 million, but this figure is heavily skewed by the gains from those discontinued operations, not the core business. Finance: draft 13-week cash view by Friday.